Assignment of Certain Powers and Duties of the Ontario Securities Commission - Amendment to Executive Director's Designation and Determination

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990,
CHAPTER S.5, AS AMENDED (the "Act")

AND

IN THE MATTER OF
THE DESIGNATION BY THE EXECUTIVE DIRECTOR OF POSITIONS FOR THE PURPOSE OF THE DEFINITION OF "DIRECTOR" IN THE ACT

AND

IN THE MATTER OF
THE ASSIGNMENT OF CERTAIN POWERS AND DUTIES OF THE ONTARIO SECURITIES COMMISSION

AMENDMENT TO EXECUTIVE DIRECTOR'S DESIGNATION AND DETERMINATION

 

WHEREAS:

A. on April 12, 1999 the Commission assigned, pursuant to subsection 6(3) of the Act, certain of its powers and duties under the Act to each "Director" as that term is defined in subsection 1(1) of the Act, acting individually (the "Original Assignment");

B. the Original Assignment was amended on September 7, 1999 and February 15, 2000 (the Original Assignment as amended hereinafter referred to as the "Commission Assignment");

C. the Commission Assignment provides that the Executive Director of the Commission

(i) shall determine, from time to time, which one or more other Directors (in each case acting alone) should, as an administrative matter, exercise each of the powers or perform each of the duties assigned by the Commission to each Director, and

(ii) may, acting alone, also exercise each of such powers or perform each of such duties assigned by the Commission to each Director;

D. on April 12, 1999, the Executive Director made a Designation and Determination pursuant to the Original Assignment, which was also amended on September 7, 1999 (the "Prior Designation")

E. on February 15, 2000, the Executive Director revoked the Prior Designation and issued a new Designation and Determination (the "Current Designation"), which designated in paragraph 2 thereof a number of positions, whether or not in an acting capacity, for the purposes of the definition of "Director" in the Act and also for the purpose of the Commission Assignment;

F. the Executive Director considers it necessary and desirable to amend the Current Designation.

NOW, THEREFORE, the Executive Director hereby amends paragraph 2 of the Current Designation by deleting clause (b) thereof and replacing it with a new clause (b) as follows:

(b) the General Manager, Registration, the Assistant Manager/Senior Legal Counsel, Investment Funds and each Manager in the Capital Markets Branch of the Commission;

DATED at Toronto this 16^th day of October, 2000.

"Charlie Macfarlane"